1. Nathan and his wife Becky are both 79 years old. They are in the 35% marginal tax bracket. Nathan's IRA has a balance of $1,500,000. According to IRS Table III, a person aged 79 has a Distribution Period factor of 22.3. If Nathan chooses not to take his RMD, how much will he owe in taxes and penalties (total)?

2. Sandra has a monthly salary of $12,000. Her company allows her to put as much as 20% of her salary into the company's 401(k) plan. The IRS limit on employee contributions to the 401(k) plan is $20,000 per year. The company offers a generous matching program within the 401(k). Sandra wants to make sure she receives all the matching funds possible. What is the maximum amount she should put into the 401(k) each month, in order to ensure she collects all the company matching funds (while also maximizing her own contributions to the 401(k))?

3. Leroy decides to contribute 12% of his monthly salary of $5,000 to his 401(k) plan. His company matches the first 5% of his contribution dollar for dollar (100% match). The company matches the next 5% of his salary 50 cents on the dollar (50% match). How much is the total contribution to his 401(k) plan each month (employee contribution plus employer match)?